ECONOMICS OF FILM AND TELEVISION IN AUSTRALIA

Abstract

Molloy and Burgan's study of film and television production and distribution in Australia summaries the idiosyncratic features of the industry, identifies the domestic policies affecting this sector and discusses a number of the economic issues. This review of the study provides a different interpretation of some of the economic issues. A framework for analysing the industry is proposed, one which focuses on the management of three types of risk: uncertainty ex ante about what will attract viewers; difficulties in containing cost overruns; and the problem of piracy.